The best source for information is a Google search for the specific city or state.Breanna, I urge you to not narrow your focus to a city based on your familiarity.

Is it your understanding that all HELOCs must convert and can you cite a source?

Waukegan is a town you do not have to rent section 8, lots of great market renters, and the naval base is a great source of clients.  

A source of good quality notes and a market to sell them to.

So, to answer your question, if it is simply a payroll deposit, that is sourced funds and you have no issue using those  funds. 

In other words, these sources claim that you can't buy a property solely for investment purposes (like renting it out) without living in it yourself.Is anyone familiar with this law or regulation?

I recommend finding a source of off-market leads in that area so you can 'make money' when you buy.

While you can use your own funds, alternative sources like hard money lenders and private money lenders offer distinct advantages.

(Like a 30-second detour)Also, this park was on a website like Craigslist, this is the second 0% down seller financing deal I have found from that lead source.

I don’t know any other investors in the sense of what I’m doing in that I’m actively looking and buying and sourcing deals.